Exemption u/s 11 - cancellation of registration - even before ...

Exemption u/s 11 revoked for activities before Young Indian's incorporation; AJL acquired with valuable property.

November 21, 2019

Case Laws Income Tax AT

Exemption u/s 11 - cancellation of registration - even before incorporation of Young Indian, the registered office was shifted to Delhi and the Directors managing the affairs of the assessee company were taken on Board of AJL. Not only that, Young Indian was permitted to use the property of AJL as its registered office. - till the grant of registration and surrender made by the assessee, no worthwhile activities were carried out by AJL. In fact, what it turns out to be is that, the assessee has acquired AJL, a company that owns property worth hundreds of crores from which the AJL had been enjoying only rental income.

View Source

← Previous Next →

Exemption u/s 11 - cancellation of registration - even before ...

Exemption u/s 11 revoked for activities before Young Indian's incorporation; AJL acquired with valuable property.

November 21, 2019

Case Laws Income Tax AT

You may also like:

Exemption u/s 11 - whether the hostel activity of the trust which is imparting dental education in the institution established by it is a business activity incidental to...

The Appellate Tribunal considered whether the assessee, a trust registered u/s 12AA, qualified for exemption u/s 11 as a charitable entity. The AO argued the trust's...

Exemption u/s 11 - Charitable activity u/s 2(15) - Commercial activity - Citing past decisions favorable to the trust under similar assessments, the Tribunal reiterated...

Exemption u/s 11 and 12 - charitable activity u/s 2(15) - total receipts from trade, commerce or business/service exceeded 20% of total receipts - The ITAT, referencing...

Benefit of exemption u/s 11 - charitable activity - Activities in the nature of trade, commerce or business - the receipts from these activities which is in the nature...

The ITAT Bangalore considered whether an organization engaged in microfinancing activities qualified for exemption u/s 11 as a charitable entity or if its activities...

Exemption u/s 11 - the assessee is registered as a public charitable trust and the assessee carried only religious activities and no charitable activities are carried...

Exemption u/s. 11 - nature of microfinance activity carried on by the appellant - relief to poor - business activists or not? - charging 50% higher rate of interest -...

Exemption u/s. 11 - Charitable activity u/s 2(15) - Assessee trust is an autonomous body which is established under 5/2 of the Gujarat Town Planning and Urban...

Charitable activities - Entitled to exemption u/s 11(1) - dominant object - the assessee’s activities of running the hospital and the nursing school is intricately...

Exemption u/s 11 - Charitable activity u/s 2(15) - The Tribunal found that the assessee, a trust, was engaged in charitable activities under Section 11 of the Income Tax...

Charitable activity within the scope of section 2(15) - exemption u/s 11 - activity of preservation of environment - the activities of the assessee are charitable in nature.

Exemption u/s 11 - Other receipts - Admittedly, in the case on hand, the benefit of section 11 has been denied to the assessee for the activities carried out for the...

Exemption u/s 11 - violation of section 11(1) and 11(1)(b) - Merely advertising the fact that facility of hostel, seminar halls, auditorium etc. can be used by...

Exemption u/s 11 - Charitable activity u/s 2(15) - Assessee has derived income by way of contributions from the head office, membership fee, income from publication of...

Quick Updates: